Financial Aid Return of Title IV Funds (R2T4). Moraine Valley Community College With a rich tradition of meeting the diverse needs of its students and the community, the college commits itself to continuous improvement. Students who receive Federal Work Study funds must demonstrate need, be paid federal minimum wage and perform work-study employmentfrom 5-20 hours per week. Explore Moraine Valley's programs, all of which are designed to ensure students gain the knowledge and skills needed to meet the demands of a changing world. The SAR shows the information that was processed and allows the student to make corrections to his or her information. Request an appointment by contacting Admissions at (708) 974-5355. (708) 974-4300 (TTY 711). If you default, your school, the organization that holds your loan, the state, and the federal government all can take action to recover the money, including notifying national credit bureaus of your default. AcademicAdvisors will be available Monday Tuesday, from 8:30 a.m. to 6:00 p.m., and Wednesday to Friday from 8:30 a.m. to 5 p.m. in S 201. Moraine Valley offers scholarships to reward academic success, encourage leadership and to give financial help. SEOG (Supplemental Educational Opportunity Grant)A federal grant program for students in need who are pursuing their first undergraduate degree. Learn why Moraine Valley is one of the nation's leading community colleges. Repayment ScheduleDiscloses the borrowers monthly payment, interest rate, total repayment obligation, due dates, and length of time for repaying the loan. For more information, please contact the Financial Aid Office. The federal government sets loan limits and interest rates, but each state can set its own additional guidelines, within federal regulations. Males 18 years of age and older must be registered with the Selective Service. Note: Federal regulations for student loan disbursements: One-semester loans must be disbursed in two equal disbursements. High school students are ineligible. CapitalizationThe process by which unpaid interest is added to the principal balance of a loan, thereby increasing the total amount to be repaid. Financial Aid deadlinesare critical. Other deferments may be available depending on when and what you borrowed. Award LetterThe official document issued by the Financial Aid Office that lists all of the aid awarded to the student. A representative from, Assisting students with updating/correcting your FAFSA, Reviewing or understanding your Student Aid Report (SAR), Moraine Valley Satisfactory Academic Progress (SAP), Financial Aid Pell Recalculation Date (PRD)*. One way to meet that challenge is by attending Moraine Valley Community College. Please select the High School you attended. Learning continues outside of the classroom when you join a club or organization, connect with classmates and explore your world. By accessing the Financial Aid Self-Service you can print any documents needed by our office to complete your file. GrantA type of financial aid award based on need or merit that is not repaid by the student. Phones are not answered live, so provide a detailed message and someone will return the call. Contact advising using the academic advising request form here, emailadvising@morainevalley.edu or call (708) 974-5721. The following documents are needed to complete the application online: The Financial Aid Office has partnered with the i3 Group to help current and former Moraine Valley students manage their student loan repayment options. Save thousands of dollars on your college education by enrolling at Moraine Valley. Grace PeriodThe period of time between a borrower leaving school or dropping below half-time and when they are obligated to begin repaying their loansusually six or nine months depending on the type of loan. LenderA financial institution (bank, savings, and loan or credit union) that provides the funds for students and parents to borrow educational loans. Unsubsidized LoanA non-need-based loan on which interest is not paid by the federal government. Achieve your goals and complete your degree or certificate at Moraine Valley. The Department of Education (ED) will not pay for courses that do not count toward completing your degree or certificate. Needs AnalysisA process of reviewing a students aid application to determine the amount of financial aid a student is eligible to receive. This will be the fastest way to receive a response and you will be able to track the status of your request. Proof of residency may be required. Phones are not answered live, so provide a detailed message and someone will return the call. Filing late canjeopardize yourchances toreceive aid. Monday through Friday, 7 a.m. to 11 p.m. Subsidized LoanA need-based loan on which the interest is paid by the federal government during the in-school, grace and deferment periods. The recommended maximum academic load during fall or spring semesters is 20 credit hours. If you are a prospective student who has not applied to the college, you can contact the Admissions office for help. Achieve your goals and complete your degree or certificate at Moraine Valley. Wednesday Friday: 8:30 a.m. - 5 p.m. In-person and remote assistance is available. Federal income tax return and/or W2 forms (include parents tax information if dependent). Those courses also cannot be used to determine your enrollment status unless they are eligible for remedial courses. Moraine Valley Community College uses the award period census date for all students who attend classes at the start of the semester. Click here to view your award amounts for each semester and the entire year. Learning continues outside of the classroom when you join a club or organization, connect with classmates and explore your world. Contact the office by phone at (708) 974-5726, by fax (708) 974-8726, or in person in Building S, Room S107. Once your file is processed, you will receive an Offer Letter" in your Financial Aid Self-Service portal. ConsolidationThe loan created when a borrower combines various educational loans. able to demonstrate need by completing the Free Application for Federal Student Aid. Financial aid payments will be disbursed based on the number of credits you are enrolled in on the pell recalculation date. Entrance/Exit InterviewsCounseling sessions borrowers are required to attend before receiving their first loan disbursement and before leaving school. Origination FeeA fee charged by the federal government and deducted from loan proceeds before disbursement to partially offset administrative costs of the Federal Family Education Loan Program (FFELP). With a rich tradition of meeting the diverse needs of its students and the community, the college commits itself to continuous improvement. The Admissions Office staff is here to help you get started. Review yourStudent Aid Reportcarefully to make sure its correct and complete. The third option for completing your application is to call the Central Processing System at 1-800-4-FED-AID (1-800-433-3243) to request a paper application. PrincipalThe amount borrowed. This must be completed by all students who want to be considered for financial aid at Moraine Valley. Contact your local post office to register. All students should meet with an academic advisor each semester to ensure they are on track. Save thousands of dollars on your college education by enrolling at Moraine Valley. The award letter will list your estimated aid based on full-time enrollment. Borrowers should keep the borrower copy of their promissory notes until the loans are fully repaid. In addition, you no longer need to estimate income and tax information. Satisfactory Academic Progress (SAP)The policy of measuring quantitative, qualitative and maximum academic progress for financial aid eligibility. If you are interested in the work-study program, contact the Financial Aid Office in Building S, Room S107. The EFC is used in determining your eligibility for financial aid. New BorrowerA borrower who has no outstanding (unpaid) loan balances on the date (s)he signs the promissory note for a specific educational loan. New borrowers may be subject to different regulations than borrowers who have existing loan balances. Whether you are seeking a degree, a certificate, looking for classes to take back to your four-year institution or just looking to take a few classes for personal enrichment Moraine Valley is the place for you. Request an appointment by contacting Admissions at (708) 974-5355. Explore Moraine Valley's programs, all of which are designed to ensure students gain the knowledge and skills needed to meet the demands of a changing world. Wait times are much longer it can take up to 1-2 business days for a call or email to be returned. Understanding and Applying for Financial Aid, Are you looking for some free one-on-one assistance? More than 42 percent of our students receive some type of financial assistance, and our Financial Aid staff helps makethe process easy. Information from your parents U.S. tax return. Deadline to Submit Paperwork for Full Consideration, Financial Aid Disbursement Process Begins, Deadline to Submit Paperwork for Full Consideration**, a U.S. national (includes natives of American Samoa or Swains Island), a U.S. permanent resident with an I-151, I-1551, or I-551C (Alien Registration Receipt Card), Indefinite Parole and/or Humanitarian Parole, Conditional Entrant (valid only if issued before April 1, 1980), Other eligible noncitizen with a Temporary Resident Card (I-688), a citizen of the United States or an eligible non-citizen. Guaranty FeeAn insurance premium deducted from the borrowers loan proceeds prior to disbursement and paid to the guaranty agency that ensures the loan. Interest is calculated as a percentage of the principal loan amount. Please consult those offices for current hours. Student Aid Report (SAR)A form sent to the student after submitting the FAFSA to the federal processor. Grants are a form of aid that does not have to be repaid. The college strives to keep tuition, fees and textbooks affordable while also offering numerous scholarships. The Financial Aid Office will notify you if additional verification documents are needed. enrolled at Moraine Valley Community College in an eligible program. Please note: Each FSA ID user must have a unique e-mail address. Achieve your goals and complete your degree or certificate at Moraine Valley. The preferred method for completing your FAFSA is electronically. The rate may be constant throughout the life of the loan (fixed rate) or it may change at specified times (variable rate). Saturday, 7 a.m. to 5 p.m. With a rich tradition of meeting the diverse needs of its students and the community, the college commits itself to continuous improvement. Students are selected by the processing agency after the FAFSA is filed. The new application is available every Oct.1. The financial aid office splits financial aid files based on student's last names. The college offers free support services, counseling, job search assistance, and many other valuable resources to ensure you're successful. The recommended maximum during the summer session is 12 credit hours. You can initiate academic advising requests for service using the Academic Advising Service Request form. Monday - Thursday: 8:30 a.m. - 7:30 p.m. Friday: 8:30 a.m. - 5 p.m. In-person and remote assistance is available. Your wages and/or tax returns may be garnished, and you will no longer be eligible to receive federal or state financial aid. Create an account at i-3group.com and click For Students or call an i3 counselor at (866) 296-7955. As of July 1, 2006, all federal education loans made to new borrowers have fixed interest rates. Reserve your spot today. The free service also allows students to register with iontuition, which provides fast and easy online access to view all Federal Direct loans and review repayment scenarios, develop a personal budget and track loan servicers. The FAFSA includes the following: Students need tocomplete the FAFSA as soon as possible. Students should register for all courses for the semester prior to the pell recalculation date. Student Loans can be useful, but students should be aware of the responsibility ofborrowing money to finance theireducation. Save thousands of dollars on your college education by enrolling at Moraine Valley. They are available to students who demonstrate the greatest need. VerificationA process of review to determine the accuracy of the information on a students financial aid application. Please complete this form if you would like to be contacted by the Moraine Valley Admissions Office and informed of upcoming admissions events. Moraine Valley makes financial aid awards based on the colleges semester. Achieve your goals and complete your degree or certificate at Moraine Valley. Advisors can be seen on a walk-in basis during office hours. Applicants can complete the FAFSA online, on paper or by phone. NOTE: We stop signing students one hour before close, or earlier if necessary during peak times. There are a variety of grants available from the federal government andthe Illinois Student Assistance Commission. Award YearAt Moraine Valley Community College, academic programs are calculated in credits and measured by semesters. You can also initiate academic advising using the Academic Advising Service Request form. The college offers free support services, counseling, job search assistance, and many other valuable resources to ensure you're successful. If you are a parent of a dependent student, you will need your own FSA ID if you want to sign your childs FAFSA electronically. Census DateThe census date, also known as the Pell Recalculation Date (PRD), is the last day for students to add or drop courses before locking in their enrollment status for Pell Grant awarding purposes. Therefore, Moraine Valley can only award Title IV aid forthe credits needed to fulfill your program of study requirements. Learning continues outside of the classroom when you join a club or organization, connect with classmates and explore your world. If you would like to reach the expeditor tasked with completing your file please see the information below. Your FSA ID is used to sign legally binding documents electronically. You can access your tax data (and parents data if required) directly from the IRS portal right away. Alien Registration Card (if you are not a U.S. Citizen). Any course(s) added after the pell recalculation date will not be funded by financial aid. Your SAR is a paper or electronic document that gives you some basic information about your eligibility for federal student aid as well as listing your answers to the FAFSAquestions. Once all required documents are received, the Financial Aid Office will need 2-3 weeks to verify your file. Whether you are seeking a degree, a certificate, looking for classes to take back to your four-year institution or just looking to take a few classes for personal enrichment Moraine Valley is the place for you. Unmet NeedThe amount of financial aid eligibility that is not met with financial aid awards. To help you understand the importance of selecting courses for your program, review this Q&A document.

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